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a fear of possible economic collapse is a recurring theme. speaker of the house john boehner seem interested in a compromise with democrats that could keep the country from plunging off the so-called fiscal cliff. while florida is still official officially too close to call even without its 29 collect 29 electoral college votes mr. obama won with a hefty 303 electoral votes but a mere 53% of the popular votes begging the question, was it a mandate or a draw. the president promised to reach out to leaders of both parties. speaker boehner appeared to be ready to take him up on his offer with hundreds of billions in tax hikes that could tank the economy, boehner staked out this position on behalf of his caucus. >> for the purposes of bipartisan agreement that begins to solve the problem we're willing to accept new revenue under the right conditions. what matters is where the increase revenue comes from and what type of reform comes with it. >> eliot: a few hours earlier harry reid also called for compromise. >> it's better to dance than to fight. it's better to work together. everyth
but jon but-off -- but speaker of the house john boehner congratulated the president while offering to work with president obama. >> if there is a mandate it is for us to find a way to work together on the solutions to the challenges we face as a nation. >> john boehner addressed the budget cuts to the pentagon and some programs that will begin next year. both republicans and democrats have said they will try to avoid those so-called fiscal cliff budget cuts at all costs. >>> the day after the election wall street took a beating. [ bell ] >> the white house is staying blue but stocks were in the red. the dow is down 312 to 12,932. its 81st worst day of the year. take a look. the dow lost 313 points today. the day after president obama was elected in 2008 it dropped 486 points. the market always doesn't move down following presidential elections. when bill clinton was reelected it rose 96 points. >>> voters approved a sales tax increase to fund county programs. it would raise $50 million each year for programs like the medical center and public health and welfare. san jose's minimum
avoiding the so-called fiscal cliff. last night house speaker john boehner insisted he's optimistic about an agreement telling abc's diane sawyer he is, quote, the most reasonable responsible person in washington but he's also not backing off his stand on tax hikes. >> raising taxes on small business people is the wrong prescription given where our economy is. >> is it on the table to talk about -- >> i made clear yesterday that raising tax rates is unacceptable. and, frankly, it couldn't even pass the house. >> at issue here, a perfect economic storm that could have serious consequences. nbc's andrea mitchell breaks it down for you. >> reporter: the campaign was tough. victory is sweet. now comes the hard part. >> on january 21st, 2013, there's going to be a massive fiscal cliff of large spending cuts and tax increases. >> reporter: so what exactly is the fiscal cliff? it's a nightmare combination of tax hikes and spending cuts that congress and the president agreed to to force themselves into a compromise, but so far they haven't agreed on anything. so barring a last-minute fix at the s
boehner -- house speaker john boehner seems to be offering the first olive branch. >> reporter: they brought some defeat for republicans and they need to keep it inside the house and now he is tolling do -- willing to do a little more deal making with president barack obama. house speaker john boehner suggested for the first time a framework to avoid massive spending cuts and tax increases which kick in, in less than two months if congress does not act. >> they are willing to accept some additional revenues via tax reform. >> they have insisted they are willing to okay some tax increases on wealthier americans to avoid the fiscal cliff, and now the president is having his first presidential briefing at the white house this morning and there is some speculation today he could hold a news conference today. reporting live, allison burns, ktvu channel 2 morning news. >>> sad story, a student oakland has died in a fatal atv crash. he apparently hit a tree near corvallis. he was visiting friends and he went out riding yesterday at 4:00 an. the investigation is continuing as to whethe
is expected to give congress about how to avoid that so-called fiscal cliff. also this morning, john boehner will be holding his own news conference. that one is at 8:00. he's expected to sell us the republican position about avoiding that cliff. boehner said he's "the most reasonable guy in washington." he believes he can find common ground with the president. >>> 7:04. they are still counting votes in florida from tuesday's election. but mitt romney's top campaign official in florida now says president obama will win the state. president obama leads romney in florida. the romney campaign in florida says it only expects the president's lead in the state to grow as more ballots are counted. president obama won the election even without florida's 29 electoral college votes. >>> schools are scrambling to readjust their budgets after the passing of the proposition in california. schools will receive $14 billion more over the next four years than they would have if the measure had failed. high-earning californians may have to recalculate their budgets. under prop 30, people making more than $250
john boehner even spoke. >> john boehner were nice but the words were still very much the words of this past summer. when the gop was not going to be looking at certain types of tax increases for the wealthy without some type of corresponding offsets. like home mortgaging which is the third real of american tax politics right now. we will see. the words are good, mitchell, was not quite so good. but i think that it would be to them to see if they could go forward and make a deal with the fiscal clip. o'connell also perhaps not quite so good. >>catherine: and perhaps you would have a lot of of the easier pat for this next term? >> if the opponents are smart they could use the hurricane sandy to deal with some how package that with the defic debt ceilin and move this quickly forward and out of the way it could save everybody's face moving forward. we will see if they're that smart. ysidro depending on who you talk to into people are blaming and what people are blaming you. talking about the republicans. again, how much of this would you say is mitt romney or the party not reaching
more taxes. >> you saw house speaker, john boehner, there and he called the taxes a job killer. >> hurtful consequences of the fiscal clip come from increasing tax rates. ernst and young, raising the top rates would destroy nearly 700,000 jobs in our country. >> you would think there was a huge gam here, but what the budget report says is extending the bush era tax for everyone, what the republicans want, would create 8.1 million jobs, and increasing taxes on people making $250,000 a year would lower taxes for everyone else, but boost the gdp by 3% and create 6 million jobs. and the president said that's a 1 point difference, but conservatives say that that translates into a lot of jobs, and it's a big deal. we'll come back to you. >> all right, take a look outside and it looks nice right now, but it's wild weather around the bay area. rain and wind and even snow in the area overnight. looking at the hail that came down in the east bay, france, lightning knocked out power to an entire neighborhood. and amy has more. >> we're at 24th and fountain perfect a lot of people were wok
. president obama has talked with the top four leaders in congress, including republican house speaker john boehner. boehner said yesterday his party would consider tax increases under the right circumstances. he sent a tweet this morning to that effect. republican party needs to regroup after mitt romney's loss. veteran republican strategist wallace says the gop does need to change. >> what happens at this juncture is the same we talk about a war in the republican party between moderates and conservatives. that's an irrelevant and outdated debate it about is modernizing the language -- >> reporter: harry reid sounds ready to compromise saying in a news conference yesterday it is better to dance than to fight. "good morning america" will have more on the fiscal cliff, coming up at 7:00. tonight diane sawyer has an interview with john boehner. katie marzullo, abc7 news. >>> >> traffic and weather together next. >>> live look outside from the embarcadero looking at the bay, a lot of clouds, clear skies not going to last long that system mike has been warning us about is here how rain will aff
. for (cheers & applause) >> house speaker john boehner is also willing to be flexible. >> everything. from a revenue side and on the spending side has to be looked after. >> everything except tax hikes for the rich. that will slow down our ability to create the jobs that everybody says they want. >>pam: john boehner offered an alternative. >> it is clear that there are a lot of special tax hall loopholes. and it is also clear that there are several types of deductions deductions some of which makes sense some of which cannot. >> some of us have heard fiscal cliff but what does it really need? if what is that really mean catherine heenan. >> the fiscal cliff. >> the fiscal cliff. >> building fiscal cliff. >> congress created the fiscal cliff to force yourself to do with the national debt is the worst- case scenario in case there is no agreement on cutting spending and raising revenue. if there is no agreement by the end of the year there will be $55 billion a/with 10 percent from each program and another $55 billion from non-defense programs. air travel safety, food safety and medical payme
for now, he and john boehner are talking about a new spirit of cooperation in washington. >> we're not as divided as our politics suggested. we're not as cynical as the pundits believe. we're greater than the thumb of our individual ambation. >> reporter: today speaker boehner started open negotiations with the president. >> we're willing to accept new revenue under the right conditions. it matters where it comes from and what type of reform comes with it. if there's a mandate in yesterday's results it's a mandate for us to figure out a way to work together. >> reporter: now there's a new idea thrown out by the house speaker. he's saying why don't we delay the fiscal cliff all together for a year and in the meantime congress can work on reforming taxes and social security. >> the dow plunged 312 points today, its worst day in the year. a lot of talk is that wall street is worried a second term president obama will want tougher regulations. cbs money watch points out two hours before the opening bell the president of the european central bank admitted the euro zone crisis is now
. >>> john boehner has scheduled a news conference this morning. his will begin at 8:00 and is expected to outline the republican position on avoiding the fiscal cliff. he says he is the most reasonable guy in washington and believes he can find common ground with the president. >> i'm really proud. [cheering and applause] >> president obama got a little emotional wiping away tears as he thanked his campaign staff and volunteers at the chicago headquarters the day after winning the election, the president's campaign released this video. >>> 7 navy sales accused of leaking classified information are in hot water. military officials say the seal has provided secret information to the makers of one of the hottest video games, the punishment handed down and the local connection to the story coming up at 4:45. >>> drivers will have to stay patient going through what many call the worst interchange, the 280/880 interchange, they will add another the route into valley fair from 880 and there will be a flyover ramp, the $62 million project should be finished by early 2015. >>> 4:37 is the time.
of them voted democratic and half of them live in hollywood. >> reporter: but house speaker john boehner rejects any hike in tax rates. he would raise revenues by closing loopholes in the tax code. >> raising tax rates will slow down our ability to create the jobs that everyone says they want. >> reporter: failure to agree by the end of the year would trigger deep spending cuts and tax cuts. that could mean $2,000 more in taxes for the typical household. the jobless rate soaring to 9.1% by the end of the year. and possibly, another recession. boehner and the president were close to a deal last year. the so-called grand bargain, 4 trillion in debt reduction. many think that blueprint still works. >> and the real problem is, uncriminaled entitlement spending and a government that has grown massively. not just under this administration. >> reporter: experts warn of serious damage to the economy, if the standoff drags on. >> three or four weeks from now, they're making no progress at all, you're going to see the anxiety and the nervousness growing in the markets and the corporate board rooms
are democratic and half of whom live in hollywood? >> reporter: republican leader john boehner said when he was talking about being open to new revenue, he was not talking about new tax increases. the president sits down with democrats and republican leaders here on capitol hill on friday. back to you. >> tracie potts in washington. thank you. >>> two weeks after the destruction from hurricane sandy, victims are still trying to put their lives back together. more than 100,000 homes and businesses in new york and new jersey are without electricity as they struggle to rebuild. a 77-year-old man has died from injuries from a fall brunging the city's death toll to 43. homeland security secretary janet nah pop politan know has reaffirmed her commitment to be with those for the duration. now for a look at the weather here is nbc meteorologist bill karins with the weather channel forecast. give me good news. >> that's depends where you are in the west. >> i want sunshine. >> go south. the northwest isn't pretty. rain and snow in many areas of washington state and oregon state. look at the radar. t
'll still be wealthy. >> reporter: while john boehner agreed ballparks ises in, he said -- bipartisan cooperation is necessary, he said the president's plan is wrong >> we are not going to hurt our economy. >>> that cia sex scandal highlights the insecurities of e-mail. but there are more ways than ever to hide sensitive documents and erase your footsteps. len ramirez shows us how. >> this tape will self-destruct in 5 seconds. >> reporter: there has always been a need to protect sensitive information. whether it's a corporation dealing with trade secrets or a senator trying to hide an adulterous affair. our information more vulnerable than ever. >> the biggest concern is the security of the information in the cloud. >> reporter: the cloud based in san jose has been doubling in size the last two years by creating software that encrypts e-mail to make it unreadable to any outsider. >> if you're not going through our gateway, all you'd see is gibberish. >> reporter: it's designed as a business security system. >> consumer data. >> reporter: but there's an emerging market for consumer pr
in hollywood? >> reporter: but john boehner would raise revenues by closing loopholes in the tax code. >> raising tax rates will slow down our ability to create the jobs that everyone says they want. >> failure to agree by the end of the year would trig aerocombination of deep spending cuts and expiring tax cuts. that could mean an estimated $2,000 more in taxes next year for the typical household. the jobless rate soaring to 9.1% by the end of year and possibly another recession. boehner and the president were close to a deal last year. the so called grand bargain, $4 trillion in debt reduction including politically sensitive changes to social security and medicare. many think that blueprint still works. >> and the real problem is uncontrolled entitlement spending and the government that has grown massively, not just under this administration, under republican administration. >> reporter: experts warn of serious damage to the economy if the standoff drags on. >> if three or four weeks from now they're making no progress at all, you're going to see the anxiety and the nervousness grow
fiscal cliff. and john boehner will hold his own news conference. that begins at 8:00. he's expected to lay out the republican position on avoiding this fiscal cliff. boehner says he is the most reasonable guy in washington and he believes he can find common ground with the president. >>> they're still counting votes from tuesday's election but mitt romney's top campaign official is saying president obama will win florida. president obama leads mitt romney in florida, 49.9% to 49.3%. the romney campaigns says it expects the president's lead to get bilgier as more of the votes are counted. president obama was reelected without florida's 29 electoral college votes. >>> back over to sal who's checking in on the south bay right now. >> that's right and in the southeast bay we've had rain and just some drizzle and we can see it on this picture i'm going to show you, 237 is a little bit wet there and as rosemary had said a cell moved through and you could give yourself extra time. one of the biggest things that gets people in trouble is stopping distance, you're driving along, something ha
boehner outlined different positions is there room for a deal. >> i think there may be because john boehner made it clear that while republicans don't want tax rates to rise, they are open to collecting additional revenue. on the other side, president obama reiterated that he wants the wealthiest americans pay more taxes but he did not demand that tax rates rise to collect the money. if we read between the lines it looks like a deal could be cut to limit itemized deductions for the wealthiest americans. that's schedule a and some o of the popular deductions include mortgage interest or charitable contributions, property taxes and state and local taxes, we could see a deal around the itemized deductions. >> i don't want to be the grim reaper, what if they don't get a deal done, we're in trouble. >> 80 to 90% of americans are going to see their taxes increase, maybe by 3500 dollars on average, 2 grand for middle income americans. if you're a low to middle wage earner. here's what you would lose, the valuable earned income tax credit and payroll tax would go up by a couple percent. if
to keep speaker john boehner from setting the ground rules when it comes to negotiations over the fiscal cliff, mix of spending cuts and tax increases that will kick in at the end of the year. after returning to the white house victorious you'll hear the president argue today, as he did so many times on the campaign trail that household income over $250,000 a year should revert to those higher clinton era tax rates. white house aides say his victory is a sign that the american people feel the same way. they have no plans of backing down. they have not said how they plan to handle negotiations on the fiscal cliff. they've really just been regrouping. he met with top aides about it yesterday. capitol hill is telling me that they're waiting to hear how the white house wants to move forward. there's really nothing they can do until they hear from the white house. we got a stark reminder of how high the stakes are. the nonpartisan congressional budget office released a report saying of all those spending cuts and tax increases associated with the fiscal cl
. the fact of the matter is that john boehner might not be able to get a majority of his caucus to vote for any tax plan to put together with president obama. the democrats have to deliver and nancy is part of that. >> let us listen she was asked about her age she did not like that. >> some of your colleagues privately say they york decision to stay on prohibits the party from having a younger leadership. and hurts the party in the long term. >> what is your response? >> (audiaence gasps) >> discrimination! >> she says that the entire chinook's. gray.. for 72 years old. --she looks great-472 years old. and follow michael yaki. a half after 72 years old, she looks great. >> cloudy, cool, late evening rainfall. showers are of the day and the same on tuesday. the storm to the south is moving to the bay area. and all these clouds associated with the enormity storms but this is a rare chance that we could see this coming up from the south. it could start in the south bay first which is rare. warmer with the additional cloud coverage. mainly in the 40's with 50s for the bayshore. into the af
. republicans want us to work together. >> reporter: and house speaker john boehner opened the door to higher taxes. >> good evening, everyone. for the purposes of forging a bipartisan agreement that begins to solve the problem, we're willing to accept new revenue under the right conditions. >> reporter: conceding his loss, mitt romney called for compromise. >> at a time like this, we can't risk partisan bickering and political posturing. our leaders have to reach across the aisle to do the people's work. >> reporter: how did the people of america reject romney? one reason is our population has changed. a smaller share of whites voted, down to 72% of the total. more minorities voting, more young people. changes that favor democrats like barack obama. he reached out last night to romney backers. >> and whether i earned your vote or not, i have listened to you. i have learned from you. >> reporter: some republicans say they better learn from an election that gave barack obama four more years. bipartisanship will get an immediate test. the dreaded fiscal cliff, automatic across-the-board tax hik
doesn't have to be a fight. >> reporter: republicans are keeping control of the house and speaker john boehner is standing his ground. >> you know, the american people this week didn't give us a mandate to simply do the simple thing. they elected us to lead. they gave us a mandate to work together to do the best for our country. >> reporter: both parties will have to compromise by the end of the year to avoid the so- called "fiscal cliff." if they don't, the country faces a rollback of tax cuts as well as big cuts to defense and social programs. and there will be little time for the winners to celebrate. next tuesday, congress convenes and the top discussion will be on that "fiscal cliff." at the white house, tara mergener cbs 5. >> mitt romney and his wife left their boston hotel this morning. their future is uncertain. romney spent the past six years running for president. what's next? the initial plan is to spend time with family. but his wife recently said he will not run again for president. there is april general consensus the 65-year-old politician was unlikely -- there is a gen
of the house john boehner discussed the issue. gop leaders made it clear they will not support an increase in the tax rate for any american, including top earners. >> we are willing to accept new revenue under the right conditions. what matters is where the increase comes from and what type of reform comes with it. >> budget for the pentagon and other programs will be slashed next year. republicans and democrats said they will try to avoid that at all costs. we found while it could spell financial disaster, many people don't know what the fiscal cliff means to them. ktvu's tom vacar is live with how the outcome could effect all of us. >> reporter: the railroad is upgrading the tracks. but we are near the fiscal cliff. >> reporter: do you know what the fiscal cliff is? >> i don't. >> reporter: do you know what the fiscal cliff is? >> the fiscal cliff? no. i haven't heard of that. >> i haven't a clue what a fiscal cliff is. >> never heard of that term. >> reporter: you will and soon. >> enormous changes that are scheduled to happen around new year's day. >> the president and congress passed
john boehner agreed to openness as long as it linked to entitlement reforms and oo i'm not suggesting we compromise on principle buzz suggesting that we commit ourselves to creating an atmosphere to see common ground and seize it. >> it's better to stand and to fight it's better to work together. everything doesn't are to be a fight. everything doesn't have to be a fight. that is the way it's been the last couple years. >> two leaders different. boehner prefers to wait until newly elected congress is elected. reid calling on congress to get the work done immediately. >> you can see from this map of the electoral vote everything from florida has been called and with florida's 29 votes it won't make much of a difference either way because if we have it to go, let's say blue for the president. woe be up to 332 votes so just widen his lead. and if we make it red, and give it to mitt romney he is still 235. mr. obama retaining the presidency. want to show you more things now. how people voted closer to home. we're going to show you a map and take a look here. so going into mode, mode here.
-state voters rejected senate candidates for their extreme anti- abortion views. washington, john boehner acknowledged that the political winds may be shifting. >>pam: stay with us for, but continued coverage. >> if there is a mandate in yesterday's results it is a mandate for a to find a way to work together on solutions to the challenges we face together as a nation. pam banff if www.kron4.com for the latest election coverage. >>pam: www.kron4.com for the latest stay with us for continued election coverage. >>jacqueline: t-shirts yesterday and now, jeans today. there is rain to the north and notice the cloud pattern is spotty not very organized. for tomorrow and wednesday and also this indicates on stable patterns. near the coast. if that is exactly what we have with-on stabl and unstabe... air patterns. the chance for storms will remain with us tomorrow and friday but drier weather on tap for the weekend. we will talk to what the weekend, coming up. >>pam: developing news in the east bay an emergency meeting of trussing the violent crime in the oakland hills. reggie kumar joins us live
: and for the first time yesterday, house speaker john boehner indicated republicans might be willing to consider new sources of revenue as part of tax reform and everybody is trying to figure out if that means republicans are now willing to accept some new tax increases as part of a broader deal. reporting live, allison burns, ktvu channel 2 morning news. >>> well voter turn out here in california was a lot lower than four years ago. 59% of voters in california passed their ballots this year. back in 2008, the number was over 70% and it was just over half of 70% of registered voters turn out for the election. >>> the protests will mark the one year anniversary of occupied cal which caused clashes between students and campus police. the passage of proposition 30 should be used to lower the situation. >>> the sound of earthquakes have been eliminated and the defending champion came to town last night. the bay beat the quakes final score 3-1 and robby scored 2 goals. the galaxy came onto the western conference finals in salt lake. san jose season is over now and then there is buster posey, the giant's
are looming. >> speaker of the house john boehner appeared to dig in his heels on the suggestion of tax increases.. >> raising taxes on small business people is the wrong prescription given wheream> democratic stlat gist and former clinton advisor. >> i do think they get paid on the clinton play book on this. >> saying president needs to sell voters on a vision of compromise. >> the president doesn't make the case. people are confused on it. the way health care should have played out that makes boehner's job easier. >> speaker of the house's conversation coming up in about an hour from now on abc world news. the first indepth interview since tuesday's election. >> thank you. >> in addition to promising to work with house and senate members the president reaching outç=tc to reassure foreign leaders of his continuing cooperation. swerls leaders of germany and other countries was also announced today the president will take a historic trip to cambodia and myanmar. >> the pentagon says an iranian military plane fired upon, but did not hit a u.s. drone aircraft in whatrr
. >> house speaker john boehner also spoke today. he said this is president obama's moment and his chance to show he can lead congress to a bipartisan solution. >>> it is a flat out no comment so far from redwood city electronic arts after news one of its video games may cost one of its members s.e.a.l. team 6 team's their job. they were paid to help design those games, right? >> i'm he going to tell you right now, that's not unusual. i've met with video game designers for almost 20 years now. at those meetings you often meet with military consultants who help them. in fact, the army has its own video game designed by the army. the problem with this new video game, medal of honor war fighter, is the consultants were navy s.e.a.l.s., special forces. they're supposed to be far more secret. the defense department has told news agencies that several members of the team, including one member who participated in the killing of osama bin laden, have been officially reprimanded for revealing secrets to the game maker. in the military, that can be a career killer. secrets are relative. just explai
crisis. 52 days now until the so-called fiscal cliff. mr. obama and house speaker john boehner laid out their new positions, which sound a lot like their old positions. the president says he will be flexible to a point. >> i refuse to accept any approach that isn't balanced. i am not going to ask students and seniors and middle class families to pay down the entire deficit while people like me making over $250,000 aren't asked to pay a dime more in taxes. >> the problem with raising tax rates on the wealthiest americans is that more than half of them are small business owners. >> republicans say they won't budge on taxes unless democrats bring to cut the costs of social security and medicare, starting with the raising the minimum ages to qualify. >>> with the showdown looming over whether the police department guess into receivership, oakland is urging a middle ground. ever since 2000 where there was rampant police corruption, the department has been threatened with a federal takeover unless reforms were implemented. now with a december court date, the city is bracing for a possible tak
of communication between the president and the house speaker john boehner. >> i'm not wedded to every detail of my plan. i'm open to compromise. i'm open to new ideas. >> everyone wants to get our economy moving again. everyone wants to get more americans back to work again. >> reporter: could this be washington code for a real compromise? political science expert max neimann says that's exactly what it is. >> and there's a kind of dance taking place in which each side wants to portray itself as the one that is reasonable. >> reporter: that could be tough on capitol hill. today the president promised to veto any deals that include tax cuts on people making more than $250,000 a year a move republicans say will only cost more jobs. >> if we're serious about reducing the deficit, we have to combine spending cuts with revenue. and that means asking the wealthiest americans to pay a little more in taxes. >> according to the ernst & young raising the top rates would destroy nearly 700,000 jobs in our country. >> reporter: while the president and the speaker are at odds over income taxes on wealthier ame
john boehner said everything, including increased revenue needs to be on the table and said it's time for the president to lee.d. >> thank you. wall street weighed in on what the president had to say today. stock prices on the rice after'z consumers sentiment reported at a more than five-year high. here is what happened after television. the dow finished with a gain of just four points. this is what the line looked like. they were just lining up to get boxes for thanksgiving and christmas and put their name on the list for christmas toys. >> this is really scary to see people braving elements just for that opportunity. >> we're crowded and money is tight. so this won't be a very good holiday season. >> they plan to sign up 4,000 families. the agency making a plea for don yaigs to meet demands. >> a former america's cup sailing team was devastated by the -- and lift spirits. here is the story. >> looks like a hot sauce bottle but it's supposed to be a plane. >> should go farther than a couple feet. i used to build model planes.. >> that is not stopping mario and his daughter from plann
. >> reporter: house speaker john boehner reiterating his plan. the speaker saying he's unwilling to raise taxes but is open to new revenue by eliminating some tax deductions and loopholes. >> by lowering rates and cleaning up the tax code we know we're going to get more economic growth. it'll bring jobs back to america. it'll bring more revenue. >> reporter: with their starting points for negotiations defined both parties agree a deal must be reached or the economy will fall back into recession. >> i was encouraged to hear speaker boehner agree that tax and revenue is a priority. >> reporter: in washington, nicole collins fox news. >>> more details on that so called fiscal cliff. without action bush era tax cuts would end. including the child tax credit and earned income tax credit. billions of the dollars in automatic spending cuts would kick in including money for education, food inspections and air travel safety. >>> the dow industrials closed up four points the nasdaq gained nine. but for the week, both of those indexes ended more than 2% lower. >>> the unexpected resignation of cia direct
now. >> reporter: but republican house speaker john boehner has balked at that idea. it would take away most of his party's leverage in fiscal cliff negotiations. >> there are a lot of issues on the table that have to be resolved by the end of the year, and i think i've laid out a reasonable framework where both parties can work together, and i'm looking forward to going down to the white house on friday and beginning that conversation. >> reporter: boehner and other top republicans have proposed eliminating deductions and loopholes that benefit the wealthy instead raising their tax rates. >> we are not going to hurt our economy and make job creation more difficult which is exactly what that plan would do. >> reporter: today the president argued closing loopholes alone won't be enough to cut the deficit. he'll have that argument face to face with wayne or friday. one of the most frequent criticisms we've heard over the past few years from members on both sides if you haven't done enough to reach out and build relationships. are there concrete ways you plan to approach your relation
close to $1 trillion. >> reporter: but house speaker john boehner made it clear, wealthiest americans should not see their taxes go up. >> i have outlined a framework how both parties can work together to avert the fiscal cliff without raising tax rates. >> reporter: for the first time, the president weighed in on the scandal that led to general petraeus' resignation as cia director. >> i have no evidence at this point, from what i've seen, that classified information was disclosed that, in any way, would have had a negative impact on our national security. >> reporter: the president also blasted top republicans for their criticism of u.n. ambassador susan rice over the administration's initial reason for the attack on the u.s. consulate in benghazi. he said they should, instead, take aim at him. rob and paula, back to you. >> definitely a heated moment for the president there. preeti arla, live in washington. thanks, preeti. >>> and david petraeus will be on capitol hill tomorrow to testify about the september 11th attacks on the u.s. consulate in benghazi, libya. petraeus was still
and center in these talks with speaker john boehner. >> all right. chuck todd at the white house this morning, thanks. john meacham is a pulitzer prize winning historian and author of the new book "thomas jefferson the art of power." good morning. >> thank you, sir. >> tell me about what's going on in washington right now. everyone is saying the right things. president obama said a couple days ago i'm looking forward to reaching out and working with leaders in both parties to meet our challenges. john boehner said we are ready to be led. is this just honeymoon talk or do the american people have reason to believe things might be different in a second term? >> a lot of it's honeymoon talk. this is the natural result. the president wants to appear magnanimous in victory. the speaker, whose party just lost, wants to be clear that practically he understands that the country voted for an incumbent president as opposed to the nominee of his party, so it behooves him at this point to make the right noises. but it's still friday. sometimes bipartisanship in washington is a little like what mark twain
burns reports from the washington, d.c. newsroom that house speaker john boehner seems to be offering the first olive branch. alison n. >> alley -- alison? >> reporter: house speaker john boehner was able to hold onto the majority in the house. there are some tynes from him that he might be able to and willing to strike some more deals with president obama. speakser boehner suggested for the first time a framework -- speaker boehner sucked for the first time a framework to avoid the massive spending cuts and tax increases that will kick in this less than two months if congress doesn't act. >> because the mesh people expect us to find common ground, we're willing to accept -- and extend the olive branch. >> reporter: president obama is getting his first post election presidential briefing this morning. reporting live from washington, d.c., alison burns, ktvu channel 2 news. >>> 8:16. here's some good news. tuition will be reduced for california state university, now that voters passed prop 30. csu said they were able to avoid a $250 million mid-year budget cut. so it will rescind a $2
in our nation's capital. president obama and house speaker john boehner appear to be drawing lines in the sand over that looming fiscal cliff. big tax hikes and spending cuts that could take effect at the end of the year. if washington can't find a compromise. that could have a big impact on your bottom line. we'll get you more on that in just a moment. >> also it sounds a bit crazy but apparently it's real. you'll meet some people who are addicted to the internet. >> plus with prices skyrocketing at the supermarket, as i'm sure you've noticed, every penny counts. we have some tips on stretching your dollars by making your everyday groceries last just a little bit longer. and speaking of money, some high profile women including the duchess of cambridge and first lady michelle obama, making it fashionable to recycle outfits. we'll tell you about the message it's sending to the rest of the world. >> i'll fess up, i wore this suit six weeks ago. all right we've dealt with it. and we'll introduce you to a true wonder dog. a poodle mix who was rescued from a trash heap, blind, and ver s
moment. >> reporter: house speaker john boehner indicated a new willingness to work with the president. >> we want you to succeed. let's challenge ourselves to find the common ground that has eluded us. let's rise above the dysfunction and do the right thing together for our country. >> reporter: but can the speaker make deals with the white house and still satisfy tea party republicans. >> i'm not sure i see that changing over the next few years. >> reporter: usf political analyst, david latterman says republicans are at a cross roads. either continue to stone call -- >> or do they get the message that a lot of people don't want that, and there is room for compromise, and they do come to some accommodation on a couple things. >> reporter: diana feinstein says there's hope. >> we have to find some ways to use that word, which some are disdainful of berks you which i see in an enormously confident sense, and that word is compromise. >> this isn't something that i'm going drawing lining in the sand. he's not going to draw any lines in the sand, i don't believe. >> reporter: compromise ma
last night that includes house speaker ran john boehner. he says his party is willing to consider tax increases only under the right circumstances which include fewer tax loopholes and simpler, fairer tax code. right now all sides are laying out opening arguments for negotiations that are to come. they need to avoid severe and automatic government spending cuts and tax hikes that will take place january 1st. those cuts and hikes total 800 billion dollars. in the bay area there's hope president obama's reelection will bring amick boost especially in the silicon valley. with health care behind him the tech industry feels the president can turn his attention to jobs, housing and clean technology. katie marzullo, abc7 news. >>>s did are trying to determine how badly hurt an 11-month-old fremont baby was when she fell from a third story window yesterday. firefighters say the baby landed in bushes outside her home in the 800 block of walnut avenue yesterday afternoon the baby was unconscious when she was airlifted to the hospital but breathing and crying on arrival. police say her mother wa
, republican house speaker john boehner will hold his own news conference. he's expected to tell us the republican position on avoiding the fiscal cliff. boehner says he's the most reasonable guy in washington and believes he can find common ground with the president. >>> they are still counting votes in florida from tuesday's election, but mitt romney's campaign advisor says president obama are will win the state. the romney campaign in florida says it only expects the president's lead in the state to grow as more ballots are counted. president obama of course won the election without florida's 29 electoral votes. >>> time 5:07. we have rain and wet roads and sal we have crashes. i don't think you're going to have friday light today. >> i'm still hoping but i think you might be right dave and pam. you should be especially careful on your way to work today. a ktvu photographer actually took some video of someone driving in the rain and this photographer, our photographer was driving out actually early, pounding rain on 880 a few hours ago. chp warns there are shrieky slick -- slick
congressional budget office says ignoring this fiscal crisis could throw merck back into a recession. john boehner called on the president to lead. >> this is his moment to engage the congress and work towards a solution that can pass both chambers. >> reporter: for the first time there looks to be signs of cooperation. a willingness to negotiate to find a solution. >> i'm not weighted to every detail of my plan. i'm open to compromise. i'm open to new ideas. >> reporter: the president invited congressional leaders of both parties to begin working on a plan. any balanced plan to reduce the deficit must ask the wealthiest of americans to pay more. in washington, jacqueline fell, ktvu, channel 2 news. >> a week ago a lot of people probably didn't know about the fiscal cliff. since the election it seems there are reports about it everywhere. rob roth tells us that seems to be creating a ground swell for action. you talked to a congresswoman about that this today. >> reporter: right. we're standing on 3rd avenue made up of mostly mom and pop shops just like main street usa. folks here say they
americans to pay more. republican response from house speaker john boehner said proposed tax hikes on small business owners would cost america hundreds of jobs. >> can't just cut our way to prosperity. if we are serious about reducing the deficit, we have to combine spending cuts with revenue, and that means asking the wealthiest americans to pay a little more in taxes. >> here's the problem with that. raising those rates on january 1st would, according to the independent firm earnst and young, destroy 700,000 american jobs. that's because many of those hit by the tax increase are small business owners. >>> the white house said the president would veto any bill from congress from extends tax cuts for families making $250,000 or more. boehner said he won't consider raising taxes but he would consider eliminating tax loopholes. >>> a hercules city council member faces possible censure on tuesday on an abc news indication of unethical and abuse of power. the contra costa time reports the hercules councilwoman is in hot water with fellow council members for silencing a resident over blog posts
more in taxes. >> house speaker john boehner argued against any tax rises -- tax hikes. >> instead of raising taxes on americans, let's begin to solve the problems. let's focus on tax reform, closing the loopholes and tax rates. instead of an arbitrary cuts that will endanger our defense, but consumers about entitling -- short of the entitlement programs. >> in haiti, turn to rains and floods have killed 11 people and left thousands homeless. just two weeks after he was devastated by hurricane sandy, rivers have overflowed, crops have been destroyed, and aid workers say they are in dire need of supplies. >> we have 150 people here with only 12 sacks of bread. they gave us four cases of jews this morning. the world food program brought two packs of cookies for each one. we have handicapped people here, women who give birth last night. we have nothing for them. >> and the york region is continuing its slow recovery, retain sunday -- slow recovery from hurricane sandy. officials say the storm caused more than $50 billion in damages to the new york region, making it the country's costl
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